Cordlife yet to receive letter from shareholders for meeting to appoint nominee directors

CORDLIFE Group said it has yet to receive any letter from the two shareholders or their legal firm Rajah & Tann on their intention to call for a shareholder meeting to seek board representation.

The firm issued this statement to the Singapore Exchange in response to The Business Times report on Wednesday, citing sources, that two key shareholders of Cordlife - Bonvests Holdings Ltd and Tai Tak Estates Sdn Bhd - who collectively own 22.5 per cent stake in the firm, have hired legal firm Rajah & Tann to assist in calling for a shareholder meeting to pursue the matter.

Cordlife however disclosed that the company had previously received letters from these two shareholders, putting forth their nominations for appointments to the board.

"The nominating committee will be convening a meeting to discuss and review the suitability of the two candidates as non-independent, non-executive directors of the company," said Cordlife chairman Ho Choon Hou.

Cordlife shares slipped 3.5 Singapore cents or 2.3 per cent to S$1.46 on Wednesday.